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Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
.jpg) The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much higher. The Baltic Dry Index move forward to surpass the 3,000-point once again and end the week at 3,009 points. According to Weberseas’ latest weekly report “improving rates are pushing the indices upwards albeit at a steadier pace. All the market indices have finished the week positively with increases between 1-4%” said the report.
It further added that no doubt there is solid demand from China and coupled with the continued congestion around the world's main loading/discharging ports we are seeing a supply/demand imbalance. “Worldwide congestion currently stands at around 31 million deadweight. Australia and Brazil are accounting for about one third of this. At Australia's loading ports there are 5.7 million deadweight of ships waiting (half of which are panamax bulkers with 40 odd of these ships stuck in waiting). The figure is slightly less in Brazil at 4.7 mill deadweight” said Weberseas.
As the talks continue between the Chinese steel mills and the major mining producers (BHP Billiton, Rio Tinto and Vale) more and more of the Chinese importation is done via spot fixtures from other areas with India getting the lion's share. This means that supramax and panamax bulkers are benefiting and presently experiencing strong freight numbers. Panamax bulkers seem to be benefiting the most at the moment from the congestion and we are seeing the BPI standing at a 25% premium over the BCI (4,034 and 3,071 respectively). Both the supramax and panamax segments have also been assisted by the good grain trading volumes.
But brokers remained cautious, as their primary concern is the fact that rising iron ore prices could hurt demand and hit cargo activity. Iron ore prices in Asia were rising throughout the week, continuing a rally that started last month, with high grade ores at their highest since August 2008, Reuters said in a report, adding that China has been buying Indian iron ore, shipped using supramaxes, bolstering rates on the smaller vessel market.
Analysts from Commodore Research indicated in another update on Chinese commodity demand that China’s restrictions on iron ore imports have forced spot ore prices to increase sharply. Chinese iron ore fixtures have remained relatively firm this week, ore fixtures were very low yesterday and on Monday - but today they have increased. Chinese ore demand continues to remain firm, and, so far, importers are not truly heading a call to boycott Australian and Brazilian iron ore. Spot Indian iron ore prices have increased to approximately $146/ton FOB, an increase of $22 (18%) from April 5.
Omar Nokta of Dahlman Rose stated that if the quoted Vale price is accurate, the dry bulk market could see significant upside in the coming weeks, as $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
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